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Patagonia Gold ( (TSE:PGDC) ) has issued an update.
Patagonia Gold Corp. announced that its shareholders have approved a US$40 million investment by Black River Mine Inc. to fund the development of the Calcatreu project in Argentina. This approval, which received overwhelming support from shareholders, is pivotal for advancing the project, which boasts over one-million-ounce AuEq resources. The completion of this financing is contingent on customary closing conditions, including TSX Venture Exchange approval, and is expected to enhance the company’s operational capabilities and market positioning in the mining industry.
Spark’s Take on TSE:PGDC Stock
According to Spark, TipRanks’ AI Analyst, TSE:PGDC is a Neutral.
Patagonia Gold’s overall stock score reflects substantial financial difficulties, with weak income, balance sheet, and cash flow metrics. Despite some technical momentum, valuation concerns due to unprofitability weigh on the stock’s attractiveness.
To see Spark’s full report on TSE:PGDC stock, click here.
More about Patagonia Gold
Patagonia Gold Corp. is a publicly traded mining company focused on South America, primarily engaged in the exploration and development of gold and silver projects in Argentina’s Patagonia region. The company is listed on the TSXV and is notably working on the Calcatreu Project in Rio Negro and the Cap-Oeste underground project, holding mineral rights to over 375 properties in Argentina.
Average Trading Volume: 80,935
Technical Sentiment Signal: Buy
Current Market Cap: C$30.23M
Learn more about PGDC stock on TipRanks’ Stock Analysis page.